USA Federal Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | November 1953 |
| Headquarters | San Diego, California , United States |
Area served | California, Nevada, Japan, Korea |
Key people | Martin P. Cassell (late CEO) |
| Products | Savings accounts, checking accounts, IRAs, certificates of deposit, consumer loans, credit cards, mortgage lending, home equity lines of credit, small business financial services, investment services, insurance products |
| Website | usafed |
United Services of America Federal Credit Union (commonly known as USA Federal Credit Union or USA Fed) was a credit union based in San Diego, California, operating under a charter and oversight from the National Credit Union Administration (NCUA).
By April 2009, USA Fed managed assets exceeding $600 million and catered to a membership base of over 61,000 individuals.
It was among the 19 credit unions headquartered in the San Diego region.
History
Originally established in November 1953 as N.T.C. San Diego Employees Federal Credit Union, its initial membership was limited to civilian workers at the Naval Training Center San Diego. By 1955, the eligibility expanded to encompass all military personnel stationed at N.T.C. Subsequently, the credit union extended its membership internationally, particularly throughout the Pacific Rim.
From 2004 until 2007, the institution underwent a rebranding initiative, adopting the name USA Federal across all printed and digital communications. In 2008, it further streamlined its branding by promoting the abbreviated form USA Fed. On March 26, 2010, the official website transitioned to usafed.org.
On September 22, 2010, USA Fed declared its intention to merge with Navy Federal Credit Union, with combined operations beginning October 4, 2010 under the Navy Federal identity.
Membership
Membership eligibility for USA Fed was defined by its NCUA charter and was restricted to persons connected through a shared bond:
- Uniformed members of the Department of Defense (DoD)—including Army, Navy, Air Force, Marine Corps, and Coast Guard—as well as retirees and annuitants
- Reservists and retirees from all DoD service branches
- Personnel affiliated with Army and Air National Guard: active members, civilian employees, retirees, and annuitants
- Participants in DoD Officer Candidate programs such as midshipmen and cadets at U.S. military academies
- Civilian employees working for DoD
- U.S. government workers assigned to DoD facilities
- Contractors serving at government installations under DoD contracts
- Select Employee Groups (SEGs)
- Family members encompassing grandparents, parents, spouses, siblings, grandchildren, children (including adopted, foster, or stepchildren), and individuals residing in the same household
Organization
Chartered through the NCUA, USA Fed’s governance structure included a volunteer board elected by its membership.
Services
The credit union offered a range of typical financial products such as savings accounts ("Share Savings"), checking accounts, individual retirement accounts (IRAs), and certificates of deposit. Its portfolio also included consumer loans, credit cards, mortgage lending, home equity lines of credit, along with certain small business financial services. Through its Credit Union Service Organization (CUSO), CUSO Financial Services, L.P. (CFS), it provided enhanced investment services, online brokerage access, and insurance products.
By mid-2010, USA Fed had closed its Las Vegas branch—one among several locations acquired via a previous merger—resulting in a total branch count of 19. As of March 2009 data indicated operations across 20 branches and 23 ATMs located throughout California, Nevada, and internationally in Japan and Korea.
Scholarship programs
Initiated in 1987, USA Fed’s Student Scholarship Program granted five scholarships annually to high school seniors preparing for college. In 2001, it was renamed the Martin P. Cassell Scholarship Program to honor the late CEO’s memory. Later in 2006, the Board established the CDR Timothy R. McMaster, USN, Scholarship Program aimed at supporting children of active-duty military personnel.
Community engagement
USA Fed has played a significant role in San Diego Fleet Week, with Director of Military Affairs Jim Bedinger providing key leadership. Additionally, since 2004, the organization has been a sponsor of Walk on the Wild Side, an event that raises funds for the San Diego Zoo.